Income Tax Assessment Act 1936

Part IX repealed by No 15 of 2007, s 3 and Sch 1 item 8, applicable to the 2007-2008 income year and later years.

Former Part IX inserted by No 97 of 1989 and amended by No 105 of 1989.

Div 10 repealed by No 15 of 2007, s 3 and Sch 1 item 8, applicable to the 2007-08 income year and later years.

Div 10 inserted by No 105 of 1989.

S 309 repealed by No 15 of 2007, s 3 and Sch 1 item 8, applicable to the 2007-08 income year and later years. S 309 formerly read:

SECTION 309 MARKET VALUE OF STOCK EXCHANGE LISTED ASSETS  
309(1) [Determination of market value]  

Where:

(a) a 30 June 1988 asset of a taxpayer was listed on an Australian stock exchange on 30 June 1988; and

(b) on that date, identical assets were:

(i) computer traded on a national market; or

(ii) traded on a State capital city market;

the market value of the asset as at the end of 30 June 1988 shall be taken, for the purposes of this Division, to be the average of the highest and lowest trade prices for identical assets recorded on 30 June 1988 in whichever of the following markets is applicable:

(c) if, on that date, identical assets were computer traded on a national market - that national market;

(d) if, on that date, there was a State capital city market (other than the Sydney market) that recorded a higher volume of trading than the Sydney market in identical assets - that State capital city market;

(e) in any other case - the Sydney market.

309(2) [Asset deemed listed]  

For the purposes of this section, an asset shall be taken to have been listed on an Australian stock exchange on 30 June 1988 if, and only if, on that date the asset had the status of having been granted official quotation by a securities exchange within the meaning of the Securities Industry Act 1980 or the law of a State or Territory corresponding to that Act.

S 309 inserted by No 105 of 1989.